BOSTON, March 27, 2000 -- The State of Missouri has officially designated the life sciences industry as one of Missouri's Lead Industries for purposes of economic development and growth. The action came in an Executive Order issued Friday by Missouri Gov. Mel Carnahan and announced today at BIO 2000 in Boston by Joseph L. Driskill, Director of the Missouri Department of Economic Development.
In the executive order, Carnahan ordered each Missouri executive branch department to review how its programs and activities impact the state's life sciences industry and how it can play a role in creating a positive climate for continued growth of Missouri's life sciences industry. A consolidated report prepared by the Department of Economic Development based on each department's life sciences review is due to the Governor no later than May 1, 2000.
Also created by the executive order was an interagency task force charged with facilitating interagency cooperation on behalf of the life sciences. Chaired by the Department of Economic Development, the task force will include representatives of the Department of Education, the Department of Higher Education, the Department of Conservation, the Department of Natural Resources, the Department of Health and other departments that potentially have a role in promoting life sciences in Missouri.
Speaking at BIO 2000, an international life sciences and biotechnology conference, Driskill noted that Missouri is home to more than 100 life sciences companies, placing it among the top third of all U.S. states in the number of life sciences companies. "A vibrant life sciences industry creates excellent jobs, lifting the state's entire economy and improving the quality of life for all Missourians," he added.
Research funding coming to Missouri from the National Institutes of Health increased 46% between 1995 and 1999 when it reached $316 million. The increase placed Missouri fifth among states receiving substantial NIH funding -- i.e. those getting more than $65 million a year -- based on percentage increase.
Missouri is also targeting 20 percent of its tobacco settlement funds for biomedical and health sciences research, as proposed by Carnahan and passed by the state's House of Representatives. According to a study released earlier this month by the National Conference of State Legislatures, only 18 states plan to use tobacco settlement monies for health sciences research and most of these are allocating less than 20 percent.
"In Missouri, we're focusing on partnership building and collaboration to speed develop of the life sciences industry. We're taking a statewide approach and concentrating on the interrelationship of basic research, information technology, agriculture, environment and health," explained Driskill.
"Missouri is also a leading location for job creation by high growth companies and increasingly popular destination for venture capital funding," said Driskill. According to the Progressive Policy Institute, the state ranks eighth in the number of "gazelle jobs" created by high growth companies.
In 1999, venture capital investment increased by 117 percent in Missouri according to the PricewaterhouseCoopers MoneyTree Report. With this increase, Missouri outpaced Texas, Philadelphia and the Midwest, North Center, South West and South Central regions.